Page 423 - MOE ENGLISH PR REPORT - JUNE 2024

6/24/24, 2:27 PM PRESSR: Economic Integration Committee reviews progress of National Registry, discusses UAE’s endeavours in enhancing trade…
During the meeting, Bin Touq emphasized the significant indicators

of economic growth achieved by the UAE under the vision and

guidance of the wise leadership in 2023. These accomplishments

include the GDP of the UAE at constant prices, which has grown by

3.6 per cent from 2022 to AED 1.68 trillion. Furthermore, the non-oil

GDP at constant prices reached AED 1.25 trillion, experiencing a

growth rate of 6.2 per cent in comparison to 2022. These figures

solidify the UAE’s position as the fifth-largest economy globally in

terms of real GDP growth index. Additionally, the UAE has been

ranked the first in the region and the 18th globally in the World

Economic Forum's Travel and Tourism Development Index (TTDI)

2024, climbing seven places from its 25th global ranking in 2019.

Last week, the UAE signed an Economic Partnership Agreement with

South Korea, marking the beginning of a new era of economic growth

and promoting positive collaboration across various sectors such as

trade, investment, and economy. This agreement aims to foster

constructive cooperation with one of the world’s strongest

economies.

The Committee has reviewed the progress made in the different

stages of development of the National Economic registry, utilising

the latest technological solutions and artificial intelligence. The

registry consists of two phases: the first links data from local

licenses issued by UAE emirates to companies and institutions, and

the second links data from licenses issued by free zones to

companies and institutions, as well as data of all kinds of licenses

from all registration authorities in the UAE and free zones. Once the

https://www.tradingview.com/news/reuters.com,2024-06-04:newsml_Zaw4wZshR:0-pressr-economic-integration-committee-reviews-progress-of-nation… 3/4